Stan Dryer, an unsuccessful-at-life green-belt in karate teenager, is given an ancient ring by an old karate master whom Stan tried to save from impending doom.
Stan soon discovers the magical power of the ring when he defeats not one, but five drunk, low-life idiots who want to steal his red convertible. He even discovers that the ring gives him the power to answer any question you may have about the rise and fall of Communism in Russia.
Soon Stan starts taking advantage of his power. One day, at lunch, Stan and his friend notice the top jock at school asking his girlfriend why they broke up. Stan and his friend overhear the conversation and Stan's friend says something along the lines of, "...it'd be nice if someone would shove his jock strap in his face..." Stan counters this by saying, "I think I can do better than that."
Stan then gets up and asks the top jock's girlfriend out. The top jock becomes furious and tries to punch Stan, but Stan grabs his fist in defence. A fight breaks out, and Stan ends up defeating 12 jocks in the process. So Stan meets up with an evil man named Vonn, and also meets a monkey that is actually a reincarnated version of the old man. Stan discovers his powers were in him the whole time and defeats Vonn, gets the girl and is happy.